Thermon Group reports Q2 adjusted EPS 49c vs. 38c last year

Reports Q2 revenue $123.7M vs. $100.6M last year”This was another excellent quarter for Thermon, with record revenue, gross profit and non-GAAP adjusted EPS. The results are a testament to the strong execution of our strategic initiatives and our global team’s ability to operate effectively in a dynamic environment,” said Bruce Thames, President and CEO. “Earnings per share were up approximately 30%, largely due to resilient customer demand combined with productive, incremental investments in our strategic initiatives that are driving profitable growth. Sales volume was driven by healthy demand in the United States and Latin America, along with substantial year-over-year revenue increases across diversified end markets such as Power, Renewables, and Food & Beverage. Decarbonization opportunities represented over 7% of revenues and 11% of bookings in the quarter as we continue to see growth in the pipeline. We enter the second half of our fiscal year with a solid backlog and a balanced outlook that accounts for ongoing macroeconomic volatility and the significant opportunities ahead of us in Fiscal 2024 and beyond.”